POINT MARKETS-Fall in sight in Europe after the fall of "techs" on Wall Street

      Comments Off on POINT MARKETS-Fall in sight in Europe after the fall of "techs" on Wall Street
  (Updated with index futures, bond market in Europe)
    * Nasdaq fell more than 3% Monday with FANG
    * The decline has spread in Asia, Chinese stock markets fell by 2%
    * The CAC 40 indicated down 0.5% at the opening
    by Blandine Henault
    PARIS, November 20 (Reuters) - Major European stock markets should
open down Tuesday, in the wake of Wall Street, heavily penalized the
watch by the fall of the big technological values.
    According to the futures contracts, the Paris CAC 40 .FCHI could lose
0.48% at the opening and sinking a little more under the 5,000 points. The Dax at
Frankfurt .GDAXI would retreat 0.66% and the FTSE in London .FTSE would sell
0.34%.
    Fears over demand have once again made Apple AAPL.O fall, the
first global capitalization, as well as most of the "tech" and
Monday night on the New York Stock Exchange, further highlighting the excitement
surrounding for several weeks the FANG, these internet giants who have
played a driving role in one of the longest rising sequences of
American stock market history.
    "The fall of Wall Street will cut short any attempt of a rebound
sustainable equity markets. Investor sentiment is penalized by
the weak persistence of US technology stocks ", indicates
Masahiro Ichikawa, strategist at Sumitomo Mitsui Asset Management in Tokyo.
    To these turbulences, are added fears, usual now, surrounding
trade tensions between China and the United States and uncertainties
who weigh in Europe around Brexit and the budgetary situation in Italy.
    
    A WALL STREET
    The Dow Jones index dropped 1.56% on Monday and the S & P-500 .SPX lost
1.66%. The Nasdaq Composite .IXIC dropped 3.03%, its strongest
percentage decline on one session for almost a month. FANG, whose
Extremely tense valuations make them all the more fragile, have
precipitated the fall of the technology index.
    The sectoral index of FANG .NYFANG has thus lost nearly 4% and is
to its third consecutive monthly decline. Among them, Apple yielded 3.96%
after a Wall Street Journal article that the group reduced its
orders for the production of three iPhone models launched in September.
  
    Facebook FB.O (-5.9%) fell to its lowest level since
February 2017.
    The S & P High Tech Index .SPRLCT fell 3.8%.
    Futures contracts on US indices are currently signaling a
opening down 0.4% to 0.7%.
    
    IN ASIA
    The decline in US technology stocks has spread to Asia and has
weighed in particular on the Tokyo Stock Exchange .N225 which ended down 1.09%.
The Japanese index also suffered from the decline of Nissan 7201.T (-5.45%) after
accusations of financial fraud against its president Carlos Ghosn.
 
    The Kospi index in Seoul .KS11, heavily weighted in "tech" values, has
0.86% and the Hong Kong Stock Exchange .HSI loses 2.08% as it approaches
fenced. The CSI 300 .CSI300 Index of China Large Cap
mainland fell by 2.31%.
    
    RATE
    Risk aversion favors a return to the bond market. The
10-year US government bond yield, which had already fallen after
remarks deemed cautious by several officials of the Federal Reserve
(Fed), is trading around 3.05%, the lowest since the end of October. US10YT = RR
    In Europe, the yield of the ten-year German Bund DE10YT = RR retreats
slightly, around 0.36%, while Italian sovereign rates rise
before the probable opening on Wednesday by the European Commission of a
sanction procedure against Italy for excessive deficit.
    
    EXCHANGE
    Recent comments by members of the Monetary Policy Committee
Fed's Federal Open Market Committee (FOMC) and clearly
below the expectations of the NAHB index of the US real estate market weigh
on the dollar, dropped to a low of nearly two weeks. .DXY
    The euro benefits from it to maintain itself around 1.1450 EUR = dollar and the
pound is stable against the greenback GBP = despite lingering tensions
around the agreement on Brexit found between London and Brussels but which
hard to convince across the Channel.
    British Prime Minister Theresa May is in trouble, and according to the
head of the BBC's political service on Monday night, he would only be missing five
letters to trigger a vote of no confidence.
    
    OIL
    Crude prices are down, penalized by deterioration
global growth prospects and rising oil production
the United States, which counterbalances the expectations of a reduction in
production by OPEC member countries.
    The barrel of Brent LCOc1 drops to 66.40 dollars and the barrel of light crude
American (WTI) CLc1 falls below $ 57.
    
    VALUES TO FOLLOW:
    The technology compartment in Europe .SX8P should be under
pressure after the fall of the big values ​​of the segment on Wall Street. Of his
Renault RENA.PA could still be in the line of fire after
accusations against his iconic CEO who have made him fall more
8% at the Paris Bourse Monday.
    
    MAIN ECONOMIC INDICATORS AT THE AGENDA OF NOVEMBER 20:
 COUNTRIES GMT INDICATOR PERIOD CONSENSUS PREVIOUS
 USA 13h30 Housing starts October 1,225 mlns 1,201 mlns
                       Building permit October 1,267 mlns 1,220 mlns
    
    MARKET SITUATION
    (Some data may show a slight shift)
    
    
  SCHOLARSHIPS
 ASIAN
 Indices Last Var. Var. % YTD
                         points
 Nikkei-225 21583.12 -238.04 -1.09% -5.19%
  .N225
 Topix 1625.67 -11.94 -0.73% -10.56%
  .TOPX
 Hong Kong 25829.43 -542.57 -2.06% -13.67%
  .HSI
 Taiwan 9743.99 -84.70 -0.86% -9.03%
  .TWII
 Seoul 2082.58 -17.98 -0.86% -15.60%
  .KS11
 Singapore 3028.41 -36.66 -1.20% -11.01%
  .STI
 Shanghai 2645.85 -57.66 -2.13% -20.00%
  .SSEC
 Sydney 5671.80 -21.90 -0.38% -6.48%
  .AXJO
 The fence in Tokyo:
  .TFR
                                                                   
  WALL
 STREET
  Previous closing
 :
 Indices Last Var. Var. % YTD
                         points
 Dow Jones 25017.44 -395.78 -1.56% + 1.21%
  .DJI
 S & P-500 2690.73 -45.54 -1.66% + 0.64%
  .SPx
 Nasdaq 7028.48 -219.40 -3.03% + 1.81%
  .IXIC
 Nasdaq 100 6642.92 -224.10 -3.26% + 3.85%
  NDX
                                                                   
  Detail of the meeting on Wall
 Street: .NFR
 "The Day Ahead" - Update on the next
 sitting on Wall Street DAY / US
                                                                   
  MARKETS
 EUROPEAN
 Futures on the CAC 40 0 ​​# FCE: and on
 the EuroStoxx50 0 # STXE:
                                                                   
  Values ​​to follow in Paris and
 in Europe: WATCH / LFR
  The previous session
 :
 Indices Closing Var. Var. % YTD
                         points
 Eurofirst 1399.27 -9.95 -0.71% -8.52%
 300
  .FTEU3
 Eurostoxx 3160.33 -20.41 -0.64% -9.81%
 50
  .STOXX50E
 CAC 40 4985.45 -39.75 -0.79% -6.16%
  .FCHI
 Dax 30 11244.54 -96.46 -0.85% -12.95%
  .GDAXI
 FTSE 7000.89 -12.99 -0.19% -8.93%
  .FTSE
 SMI .SSMI 8812.61 -94.78 -1.06% -6.07%
                                                                   
  EXCHANGE
              Course Watch Var. % YTD
 Euro / Dlr 1,1456 1,1451 + 0,04% -4,50%
  EUR =
 Dlr / Yen 112.47 112.54 -0.06% -0.18%
  JPY =
 Euro / Yen 128.89 128.91 -0.02% -4.65%
  EURJPY =
 Dlr / CHF 0.9923 0.9935 -0.12% + 1.85%
  CHF =
 Euro / CHF 1,1369 1,1378 -0.08% -2.74%
  EURCHF =
 Stg / Dlr 1.2852 1.2849 + 0.02% -4.88%
  GBP =
 Index $ 96,2030 96,1930 + 0.01% + 4.43%
  .DXY
                                                                   
  RATE
                         Last Var. Spread / Bund
                                                   (Pts)
                                                                   
 Bund 10 years old 0.3670 -0.0090
  DE10YT = RR
 Bund 2 years -0.6533 -0.0140
  DE2YT = RR
 OAT 10 years 0.7705 +0.0000 +40.35
  FR10YT RR =
 Treasury 10 years 3,0555 -0,0030
  US10YT = RR
 Treasury 2 years 2,7912 +0,0080
  US2YT = RR
                                                                   
                                                                   
  OIL
 (in progress Previous Var Var.% YTD
 dollars)
 Light crude 56.93 57.20 -0.27 -0.47% -5.78%
 US CLc1
 Brent 66.36 66.79 -0.43 -0.64% -0.76%
  LCOc1
                                                                   
 
    
    
 (Edited by Wilfrid Exbrayat)